As part of a renewable energy cooperation deal, Lithuania is a transferring a share of renewable energy statistics to Luxembourg for over 8 mln euros, with the money to be invested in small-scale green energy, promotion of renewable energy communities and scientific research.
“Luxembourg and Lithuania were the first EU member states to have signed such an agreement,” Energy Minister Zygimantas Vaiciunas said in a press release on Monday.
“Now we are putting it in practice and it will demonstrate the successful sharing of progress in renewable energy,” he added.
Under the agreement signed in October 2017, Lithuania is to transfer a part of its statistical excess amount of energy from renewable sources in 2018 to 2020 for at least 10 mln euros in total. In the first stage, Lithuania is transferring 550 gigawatt-hours.
“Our agreement is concretized now with very interesting projects to develop the renewables sector in Lithuania,” Luxembourg’s Energy and Spatial Planning Minister Claude Turmes was quoted as saying in the press release.
Lithuania’s national energy strategy sets the target of increasing the share of renewable energy in the country’s total energy balance to 30 % by 2020 and 100 % in 2050.